- Analytics
- News and Tools
- Market News
- Gold Futures: A sustained decline seems unlikely
Gold Futures: A sustained decline seems unlikely
Considering advanced prints from CME Group for gold futures markets, open interest shrank for the fourth session in a row on Wednesday, this time by more than 2k contracts. Volume followed suit and dropped by around 15.7K contracts.
Gold faces decent contention around $1900
Gold prices extended the weekly leg lower on Wednesday and printed new multi-week lows near $1900. The continuation of the decline was on the back of shrinking open interest and volume, removing strength from a sustained drop in the very near term. In the meantime, the $1900 region per troy ounce is expected to offer decent contention for the time being.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
